U.S. livestock: Profit-taking pressures cattle futures

Cattle futures on the Chicago Mercantile Trade had been weaker on Friday, with chart-based positioning a function because the market continued to again away from close by document highs.

The USA Division of Agriculture reported weekly U.S. beef export gross sales of 16,600 tonnes, which was up 22 per cent on the week and 51 per cent forward of the four-week common. Pork export gross sales got here in at 23,700 tonnes, down 44 per cent on the week and 17 per cent under the four-week common.

October feeder cattle futures had been down by 1.050 cents per pound at 357.900 cents per pound.

The October reside cattle contract misplaced 0.975 cents per pound at 235.975 cents on the shut.

The U.S. Division of Agriculture reported wholesale boxed beef costs had been decrease on the day, with selection containers down $3.45 at $410.76 per hundredweight and choose containers down $2.58 at $385.19.

Lean hog costs had been up 1.000 cents per pound within the October contract at 96.025 cents.